--- title: "GE Vernova | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 9.339 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/283643996.md" datetime: "2026-04-22T10:29:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/283643996.md) - [en](https://longbridge.com/en/news/283643996.md) - [zh-HK](https://longbridge.com/zh-HK/news/283643996.md) --- # GE Vernova | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 9.339 B Revenue: As of FY2026 Q1, the actual value is USD 9.339 B, beating the estimate of USD 9.251 B. EPS: As of FY2026 Q1, the actual value is USD 17.44, beating the estimate of USD 2.001. EBIT: As of FY2026 Q1, the actual value is USD 5.075 B. #### Overall Financial Performance GE Vernova Inc. reported total revenues of $9.3 billion for the three months ended March 31, 2026, an increase of $1.3 billion (16%) compared to the same period in 2025. Net income reached $4.7 billion, a significant increase of $4.5 billion year-over-year, resulting in a net income margin of 50.9%. Cash flows from operating activities were $5.2 billion, up from $1.2 billion in the prior year period. Adjusted EBITDA was $0.9 billion, an increase of $0.4 billion, and free cash flow was $4.8 billion, up from $1.0 billion. Gross profit increased to $1.8 billion from $1.5 billion, with gross margin improving to 19.1% from 18.3%. Selling, general, and administrative expenses were $1.3 billion (13.9% of revenues) for Q1 2026, up from $1.2 billion (14.8% of revenues) for Q1 2025, primarily due to labor inflation and costs from the Prolec GE acquisition, partly offset by cost reduction activities. #### Remaining Performance Obligation (RPO) As of March 31, 2026, the total RPO was $163.3 billion, an increase of $13.0 billion (9%) from December 31, 2025, and $39.8 billion (32%) from March 31, 2025. Equipment RPO stood at $75,924 million, and Services RPO at $87,352 million. The increase was primarily driven by the Electrification segment due to the acquisition of Prolec GE and demand for switchgear and transformers at Power Transmission, and alternating current substation solutions at Grid Systems Integration. The Power segment also contributed to the increase with Heavy-Duty Gas Turbines and Nuclear Power services. These gains were partially offset by a decrease in the Wind segment, mainly due to the execution of Offshore Wind contracts. #### Segment Performance ##### Power Segment - **RPO**: $99,694 million as of March 31, 2026, an increase of $5.1 billion (5%) from December 31, 2025, and $23.2 billion (30%) from March 31, 2025. This growth was mainly from Gas Power (Heavy-Duty Gas Turbines) and Nuclear Power services. - **Revenues**: Total segment revenues were $4,971 million for Q1 2026, up $0.5 billion (12%) from Q1 2025. Organic revenues increased $0.5 billion (10%), driven by Gas Power equipment, specifically Heavy-Duty Gas Turbine and Aeroderivative equipment deliveries and favorable pricing. - **Segment EBITDA**: $811 million for Q1 2026, up $0.3 billion (57%) from Q1 2025. Organic Segment EBITDA increased $0.3 billion (59%), primarily due to favorable pricing and higher volume at Gas Power, partially offset by the impact of inflation. Segment EBITDA margin was 16.3%. - **Operational Metrics**: Gas Turbine orders were 37 units (8.1 Gigawatts) in Q1 2026, down from 38 units (7.1 Gigawatts) in Q1 2025. Gas Turbine sales were 25 units (4.2 Gigawatts) in Q1 2026, up from 19 units (3.0 Gigawatts) in Q1 2025. ##### Electrification Segment - **RPO**: $42,440 million as of March 31, 2026, an increase of $8.2 billion (24%) from December 31, 2025, and $17.4 billion (70%) from March 31, 2025. This was primarily due to the acquisition of Prolec GE and strong demand for switchgear and transformers at Power Transmission, and alternating current substation solutions at Grid Systems Integration. - **Revenues**: Total segment revenues were $2,959 million for Q1 2026, up $1.1 billion (61%) from Q1 2025. Organic revenues increased $0.5 billion (29%), mainly from increased volume in switchgear and transformers at Power Transmission, and alternating current substation solutions and high voltage direct current solutions at Grid Systems Integration. - **Segment EBITDA**: $528 million for Q1 2026, up $0.3 billion from Q1 2025. Organic Segment EBITDA increased $0.2 billion, primarily due to volume, productivity, and favorable pricing at Power Transmission and Grid Systems Integration. Segment EBITDA margin was 17.8%. ##### Wind Segment - **RPO**: $21,348 million as of March 31, 2026, a decrease of $0.3 billion (1%) from December 31, 2025, and $0.8 billion (4%) from March 31, 2025. This decrease was primarily due to continued execution on Offshore Wind contracts. - **Revenues**: Total segment revenues were $1,432 million for Q1 2026, down $0.4 billion (23%) from Q1 2025. Organic revenues decreased $0.5 billion (25%), mainly due to lower equipment deliveries at Onshore Wind, partially offset by increased transactional volume in Onshore Wind services and higher deliveries/installations at Offshore Wind. - **Segment EBITDA**: - $382 million for Q1 2026, a decrease of $0.2 billion from Q1 2025. Organic Segment EBITDA decreased - $0.2 billion, primarily due to lower equipment deliveries and the impact of tariffs at Onshore Wind, and higher contract losses at Offshore Wind, partially offset by lower costs in Onshore Wind services. Segment EBITDA margin was -26.7%. - **Operational Metrics**: Wind Turbine orders were 146 units (0.6 Gigawatts) in Q1 2026, up from 23 units (0.1 Gigawatts) in Q1 2025. Wind Turbine sales were 154 units (0.6 Gigawatts) in Q1 2026, down from 276 units (1.3 Gigawatts) in Q1 2025. #### Strategic Initiatives and Outlook GE Vernova Inc. acquired the remaining 50% stake of Prolec GE on February 2, 2026, for $5.3 billion, integrating its operations into the Electrification segment, and recognized a pre-tax gain of $4.0 billion from the remeasurement of its previously held equity interest in Prolec GE. The company completed the sale of its Proficy manufacturing software business and Linden VFT LLC, recognizing pre-tax gains of $330 million and $3 million, respectively. GE Vernova Inc. continues to experience pressure on project costs and execution timelines in Offshore Wind, with an estimated cost impact from global tariffs of $250 million to $350 million in 2026. The company increased its share repurchase program authorization to $10.0 billion, having repurchased 1.8 million shares for $1.3 billion during Q1 2026. Management believes its unrestricted cash, cash equivalents, future cash flows from operations, and committed credit facility will meet its operational needs for at least the next 12 months. ### Related Stocks - [GEV.US](https://longbridge.com/en/quote/GEV.US.md) ## Related News & Research - [Total Clarity Wealth Management Inc. Sells 951 Shares of GE Vernova Inc. $GEV](https://longbridge.com/en/news/284968488.md) - [GE Vernova’s New German Wind Deals Test Profit And Service Thesis](https://longbridge.com/en/news/284358291.md) - [GE Vernova is setting records. This might be the most surprising one.](https://longbridge.com/en/news/283698484.md) - [GE Vernova Inc. $GEV Shares Sold by GC Wealth Management RIA LLC](https://longbridge.com/en/news/284876591.md) - [Should You Chase the Rally in GE Vernova Stock Today?](https://longbridge.com/en/news/283709482.md)